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Personal finance lessons from the Detroit bankruptcy

This touches on another aspect of Detroits bankruptcy that people everywhere should be thinking about:your pensions are not golden, even if youre employed by a government or other public-sector employer.You should not be planning your retirement based on your pension being available for 40 years. Its just not a good plan. If you are in that situation, I highly recommend taking some of your income and banking it for future years. There very well may come a time in the future where you need it, particularly if your former employer winds up in a Detroit-like situation.

Recent Grads: Passion Is the Secret Ingredient to Success in Finance

Hincheys proposed fix is to separate the positions of finance director and town accountant, which would allow the town to select from two distinct pools of specialists, rather than trying to find a single person who could handle both. It would also mean a change in the bylaw, which would in turn require a vote at the next town meeting. Selectwoman Tracy Post apologized to the candidates who appeared before the board at its last meeting, but agreed that Hincheys plan was the best course. I think this does set us onto a better position for the future, she said. The board voted unanimously to adopt Hincheys proposal.

Yarmouth finance department could see reorganization

Some professionals may tell you to lay low and wait your turn, but you’ve got to keep your eyes open for new ways to advance your career. For instance, you may have taken an entry-level position at a company, but if a new position is more in-tune with your passion and skills arises, it’s important to go for it. A successful future in the finance sector depends on your ability to turn your passion into drive. Take the advice of these top players in finance to fuel you through the start of your career. How do you showcase your passion for your industry?